 "Rupee, dollar, rupee vs dollar")
India’s low-interest-rate regime in recent years has come at the cost of the rupee.
As the interest-rate difference between bonds in the United States (US) and India has steadily narrowed in recent years, the rupee has depreciated against the dollar at a steady pace.
In the past one year, the spread between the yields on government bonds — India 10-year and US 10-year — is down 70 basis points from 2.61 percentage points at the end of June last year to 1.91 percentage points on Tuesday.
In the same period, the rupee is down 3 per cent against the dollar
